The Global Fruit & Vegetable Processing Market is expected to grow at a CAGR of 7% to 8% from 2018.
The most perishable and vital ingredients in the human diet are fruits and vegetables. They are a cheaper and better food product and make a considerable nutritional contribution to human well-being owing to their high nutritive value. Fruit and vegetable processing projects established and planned aim for solving are very clearly identified for market growth. It also aims to replace imported products like tomato sauces, squash, pickles, yams among others.
Fruit and vegetable processing is seen widely in the food and beverage industry. Several types of processing such as drying, canning, freezing, and the preparation of jams, juices, and jellies augment the shelf life of fruits and vegetables.
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Key driving factors of the Fruit and vegetable processing market:
The major factors driving this market are growing food service industry, alertness about benefits of fruits & vegetables, reduction of imports and meeting export demands, consumer demands for safety, scientific and technological developments, government industrialization policy etc. Also, continuous changing in lifestyle, rapid expansion of urban & rural areas and instant growth of food service industries are also supporting the development of this industry. Attention of government and progress in developing countries are expected to present potential growth opportunities over the forecast timeframe.
The Global Fruit & Vegetable Processing Market is mainly classified based on type, product and geography.
Fruits, vegetables and others (jams, pickles and preserved produce). The classification by product can be done as fresh, canned, convenience, frozen, freshly cut and dried & dehydrated. Canned fruits and vegetables emerged as potential segments due to rising demand and consumption worldwide and acquired around 20% of the overall market share in 2014.
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On the basis of Geography, the Global Fruit & Vegetable Processing Market:
North America, Europe, APAC, South America and Rest of the World. North America dominated the global fruit and vegetable market with over 31% market share in 2014. This was mainly contributed by increased U.S. frozen food consumption. Europe is also one of the major players in the world trade for processed fruits and vegetables. Germany, United Kingdom, France, Belgium and the Netherlands are some of the biggest importers of processed food vegetables in this region. Africa and the Middle East represent a region with a very large potential consumer base for processed fruit and vegetable products.
The major players of this industry:
JBT Corporation, Conagra Brands, Dole Foods, Albertsons, The Kraft Heinza Company, Greencore Group, Olam International, Kroger, Nestle, Krones etc.